Celtics receive huge $1 billion investment from powerful steel CEO

The Boston Celtics just received a massive $1 billion investment, a new report revealed on Thursday.

Per Sportico, Aditya Mittal, CEO of steel giant ArcelorMittal, is making a significant move into the sports world by investing $1 billion into the Celtics:

“The CEO of steel giant ArcelorMittal and a member of one of India’s richest families is investing $1 billion into the William Chisholm-led purchase of the Boston Celtics,” Sportico reported.

“Aditya Mittal will likely be the second-largest stakeholder of the 18-time NBA champions and potentially be the alternate governor in the future, according to multiple people familiar with the details. Chisholm will be the largest shareholder and take over as team governor from Wyc Grousbeck after the 2027-28 season.”

The $6.1 billion purchase of the Celtics that Chisholm spearheaded, announced in March, marked the most expensive control sale in pro sports history and is pending NBA Board of Governors approval, expected in June or July. 

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Mittal’s investment helps close the funding gap for Chisholm’s group, which includes private equity firm Sixth Street, current minority owner Robert Hale, and real estate executive Bruce A. Beal Jr. 

Mittal, son of ArcelorMittal founder Lakshmi Mittal, whose net worth is $18.1 billion per Forbes, is a longtime Celtics fan. 

A spokesperson for Mittal told Sportico that he saw the opportunity to join the ownership group as “tremendous” while remaining focused on his role at ArcelorMittal.

Mittal’s involvement continues a new era for the Celtics, a franchise facing roster challenges.

Current governor Wyc Grousbeck will stay on until 2027-28, ensuring a smooth transition as Chisholm and Mittal prepare to guide the club’s future.

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